China Ceramics Provides Clarification on Certain Matters

Date:2011-11-09     Source:sunshuxinglitingting  Text Size:

JINJIANG, China, Nov. 7, 2011 /PRNewswire via COMTEX/ -- China Ceramics Co., Ltd. (nasdaq global market:CCCL)(nasdaq global market:CCCLW)(nasdaq global market:CCCLU) ("China Ceramics" or the "Company"), a leading Chinese manufacturer of ceramic tiles used for exterior siding and for interior flooring and design in residential and commercial buildings, today announced a statement related to certain matters.

The Company may, from time to time, address, or clarify, matters which may not be clear to investors. In this regard, the Company wishes to indicate the following:

The Company does not share any of its physical facilities (plants, warehouses, office space, etc.) with other companies either in, or related to, the Ceramics Industry. Neither does the Company co-mingle any of its current assets (cash and cash equivalents, receivables, inventories, etc.) with other companies, either in, or related to, the Ceramics Industry.

Related Transactions with Related Parties, are appropriately reported in the Company's 20-F filings with the Securities and Exchange Commission (SEC).

For a number of years, the Company employed an agent, a common practice in the PRC, which assisted in filing the appropriate information to the SAIC for the Company's annual SAIC filings. The Company's wholly-owned subsidiary, Jinjiang Hengda Ceramics Co., Ltd., was the sole filer of the requisite SAIC information in 2008 and 2009. By mistake, the agent filed the SAIC reports for another client company, with a similar name, Jinjiang Hengda Construction Co., Ltd. as the 2008 and 2009 SAIC reports of Jinjiang Hengda Ceramics Co., Ltd. When this misfiling became known to the Company, both the Secretary of the Company and the agent brought the matter to the attention of the SAIC, which agreed that the proper SAIC returns for the Company should be filed to correct the unintentional misfilings. There is no mismatch between the 2008 SAIC and 2008 SEC filings or the 2009 SAIC and 2009 SEC filings.

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